Arrowstreet Capital Limited Partnership Grows Stake in Wingstop Inc. $WING

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 17.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 169,605 shares of the restaurant operator’s stock after buying an additional 24,954 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Wingstop were worth $57,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC increased its stake in Wingstop by 134.2% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 408 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Wingstop during the 2nd quarter worth approximately $43,000. Hantz Financial Services Inc. boosted its holdings in shares of Wingstop by 4,200.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after buying an additional 126 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Wingstop by 623.8% in the 2nd quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 131 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Wingstop by 22.3% in the 2nd quarter. Parallel Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $61,000 after buying an additional 33 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WING. Sanford C. Bernstein reduced their price target on shares of Wingstop from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating on shares of Wingstop in a research report on Wednesday, September 17th. Zacks Research cut Wingstop from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. BTIG Research dropped their price target on Wingstop from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus cut their price target on Wingstop from $375.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $335.96.

Insider Transactions at Wingstop

In related news, Director Kilandigalu Madati sold 269 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $259.97, for a total value of $69,931.93. Following the completion of the sale, the director owned 5,283 shares in the company, valued at $1,373,421.51. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Wingstop Trading Down 2.1%

NASDAQ:WING opened at $262.89 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of 42.82, a PEG ratio of 3.71 and a beta of 1.75. The stock’s 50 day simple moving average is $248.12 and its 200-day simple moving average is $298.72. Wingstop Inc. has a 12-month low of $204.00 and a 12-month high of $388.14.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. The firm had revenue of $175.74 million during the quarter, compared to the consensus estimate of $189.10 million. Wingstop had a negative return on equity of 16.17% and a net margin of 25.51%.The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Research analysts forecast that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, November 21st. Wingstop’s payout ratio is 19.54%.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.